The Economy Is Just One Speech Away From Recovery...The Onion
- "Anticipation, Anticipation...Is Making Me Late...Is Keeping Me Waiting" are lyrics from an old Carly Simon song that would be more appropriate in describing the Obama administration and political class in the last six years. During the same period the promises of "Hope" morphed into hopelessness as "Change" turned into a nightmare for millions of Americans.
- In the beginning, the administration's use of anticipation was a clever tactic especially when entwined with promises. The problems started when the onion was peeled revealing nothing. More Americans began to feel like the tourist playing 3 Card Monte on the corner of 8th Ave and 34th Street in NYC only to realize he was conned with every hand played. He was taken in by the illusion of winning. In the case of this administration, the illusion was Hope and Change. Unfortunately, about half the country fell for the scam.
- And while there are many examples of the scam as evidenced with Obamacare and the promises associated with that law, perhaps the most glaring example is income inequality. Not because it doesn't exist, it does. It's been part of the human economic condition since the first guy sold a potato to a neighbor in the village. Some actors make a dime while others make millions. Some athletes make a mil while others make 10 million. Physicians generally make a good buck compared to nurses. Retail employees don't make as much as employees at Apple.
- But after all the cards were shuffled in the last six years, income inequality---under this administration---increased. For example, in 2009, median household income was $55,972.00 (in 2013 dollars). Today, it's about $52,600.00 (Census). In fact, income of the bottom 80% of the population has taken a significant hit while the income of the top 20% has been rising under this administration. And we've all seen the data regarding record high rates of poverty and use of EBT cards (food stamps).
- Adding to this illusion and misery is the conspicuous hypocrisy posed by the elite progressive political class proclaiming the need to focus on this inequality. For example, on several occasion, Pres. Obama lectured the nation on this economic inequality and then proceeded to board Air Force One for yet another multi-million dollar, tax-payer funded vacation or fundraiser. And just this week, the "do what I say and not what I do" NYC Mayor de Blasio and his wife attended a union-sponsored gala that only costs a measly $800 grand, $673 grand on food alone. Mayor de Blasio ran on the platform of income inequality. It was also announced yesterday that progressive economist and columnist, Paul Krugman of the NY Times, will receive a salary of $225,000.00 to become a prof at CUNY. But there's a small caveat for those students who might want to take a course from this Nobel Prize recipient. According to CUNY, Krugman won't have to teach or supervise any students. NY Post.
- While we're teased with anticipation, life---for the political class---is a beach.